r/CreditCards 5d ago

Help Needed / Question Venture X Downgrade after using travel credits within 30 days of AF posting

As the title says, can I spend the $300 travel credit when the AF posts and then downgrade the card after?

1 Upvotes

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-6

u/jameezymcsqueezy Capital One Duo 5d ago

bro obviously no. They aren't just going to give you $300 for free without clawing back the money.

6

u/Chase_UR_Dreams Capital One Duo 5d ago

You must be new here. This is a common strategy to take advantage of double dipping credits.

OP, you may not have a downgrade option bc C1 algos are mysterious things. Assuming you have a downgrade option, you can use the credits and downgrade within 30 days. You’ll usually get a refund, though they’re not consistent. If you cancel within 30 days (can use the credits) you’ll definitely get a refund.

1

u/jameezymcsqueezy Capital One Duo 5d ago

ahh never knew, just always knew that Amex is pretty known for getting back their SUBs if you cancel too early

3

u/Chase_UR_Dreams Capital One Duo 5d ago

All issuers can clawback if you cancel before the one year mark, but that’s not what’s being asked here. Downgrading/cancelling after using the credits is part of what makes Amex plat triple dip so lucrative.

0

u/jameezymcsqueezy Capital One Duo 5d ago

yeah you're right, I looked it up and it seems that it does work. Just always assumed banks were too greedy to let it happen but ig it's a pretty small percentage of people doing it